market research

May 2010

May 2010 » Market Analysis » New York Office Report

May 2010 NYC Real Estate Graphs and Statistics


NYC Office Space Graphs and Statistics

NEW YORK CLASS A OFFICE VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office Class A 13.39 3.11 16.49 9.1 % -2.41 %
Midtown South Manhattan Office Class A 0.98 0.16 1.14 10.5 % 11.32 %
Downtown Manhattan Office Class A 3.57 1.13 4.7 7.4 % -4.91 %
Total Manhattan Office Class A 17.93 4.4 22.34 8.8 % -2.24 %
NEW YORK CLASS A OFFICE VACANT SPACE NOW AND IN THE NEXT TWO YEARS
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office Class A 22.02 8.86 30.88 13.87 % -2.41 %
Midtown South Manhattan Office Class A 1.73 0.43 2.16 14.38 % abc 11.32 %
Downtown Manhattan Office Class A 12.19 2.0 14.2 17.17 % -21.29 %
Total Manhattan Office Class A 35.95 11.29 47.23 % -7.06 %

Manhattan Class A Office Vacancies

  • Total Manhattan Office Class A vacancies decreased from 22.84 million RSF to 22.34 million RSF.
  • Total Manhattan Office Market vacancies decreased from 36.32 million RSF to 35.48 million RSF.
NEW YORK TOTAL OFFICE MARKET VACANT SPACE
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 18.36 3.53 21.89 8.1 % -2.54 %
Midtown South Manhattan Office 5.86 0.81 6.67 7.8 % 0.93 %
Downtown Manhattan Office 5.61 1.32 6.93 7.2 % -4.94 %
Total Manhattan Office 29.82 5.66 35.48 7.9 % -2.36 %
NEW YORK TOTAL OFFICE MARKET VACANT SPACE NOW AND IN THE NEXT TWO YEARS
(In Millions of Rentable Square Feet)
Direct Sublease Total % Vacant % Monthly Change
Midtown Manhattan Office 30.64 10.46 41.1 12.59 % -2.54 %
Midtown South Manhattan Office 10.24 2.12 12.35 11.72 % abc 0.93 %
Downtown Manhattan Office 16.45 2.48 18.94 15.86 % -15.88 %
Total Manhattan Office 57.33 15.06 72.39 % -4.78 %

Manhattan Office Vacancy Market

  • Total Manhattan Office direct lease vacancy decreased from 30.35 million RSF to 29.82 million RSF.
  • Manhattan Office Sublease vacancy decreased from 5.97 million RSF to 5.66 million RSF.

Manhattan Office Rent Vacancy by Area

  • Total Manhattan Office Market vacancy decreased from 36.32 million RSF to 35.48 million RSF
  • Total Midtown Office vacancy decreased from 22.44 million RSF to 21.89 million RSF
  • Total Midtown South Office vacancy increased from 6.61 million RSF to 6.67 million RSF.
  • Total Downtown Office vacancy decreased from 7.27 million RSF to 6.93 million RSF



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